Wall Street Bitcoin Miner Hut 8 Launches $500M ATM and $250M Stock Repurchase

Wall Street Bitcoin miner Hut 8 Corp. has revealed key capital market updates. The company has launched an “at-the-market” (ATM) equity offering program, a stock repurchase program, and filed a shelf registration statement with the SEC.

Hut 8 Introduces Stock Repurchase Program

The ATM program allows Hut 8 to issue shares of its common stock worth up to $500 million through sales on the Nasdaq Global Select Market or other approved methods. Proceeds will fund growth initiatives, such as acquiring energy assets, developing infrastructure, and purchasing Bitcoin. Funds may also cover general expenses, debt repayment, and other investments.

Hut 8s $250 million stock repurchase program enables the buyback of up to 4.68 million shares, or 5% of the outstanding stock, over the next year. Repurchases will occur via Nasdaq at market prices.

SEC Registration Filed for Compliance

The company secured Coatue Tactical Solutions' consent for the stock repurchase plan, as required under their convertible note agreement. Coatue waived its right to register the common stock linked to its note.

Hut 8 has filed a Form S-3ASR registration statement with the SEC, enabling sales under the ATM program and ensuring compliance with securities laws in the United States and Canada.

Both programs depend on market conditions, stock prices, and liquidity. Hut 8 retains flexibility to adjust or suspend these initiatives without notice.